Mumbai
The Awfis Space Solutions IPO opened on Wednesday for retail investors. The bidding for this issue will close on May 27.
The company is offering its shares in the price band of Rs 364 to Rs 383 per share. The IPO lot size is 39 shares. An investor must bid at least one lot to participate in an IPO.
Awfis Space Solutions will raise nearly Rs 598 crore from this public issue. This issue includes a fresh issue worth 128 crore and an offer for sale (OFS) worth 470 crore.
The company had already raised Rs 268.62 crore from anchor investors. Its anchor book included HSBC Global Investors Fund, Goldman Sachs Funds, Allianz Global Investors Fund, and others.
Awfis Space Solutions Limited is a workspace-providing company. The company works in providing co-working and office space to startups, medium and small companies, and large corporate companies.
Awfis Space Solutions has registered a loss of Rs 18.94 crore till December 31, 2023 (April to December), while the company’s income during this period was Rs 633.69 crore. The company had suffered a loss of Rs 46.64 crore in the financial year 2022-23 and the company’s income during this period was Rs 565 crore.
Swastika Investmart stance for this IPO is ‘neutral’. The brokerage firm said in its report, Awfis, a leading player in the rapidly expanding Indian workspace solutions market, leverages an integrated platform approach to cater to diverse space sourcing and demand needs. While the company exhibits promising top-line growth, achieving profitability remains a key challenge.
